Susquehanna Initiates Coverage on Genesco to Positive

Susquehanna Initiates Coverage on Genesco(NYSE:GCO). The shares have been rated Positive. The rating by Susquehanna was issued on Sep 16, 2016.

In a different note, On Jul 20, 2016, Morgan Stanley said it Downgrades its rating on Genesco. In the research note, the firm Lowers the price-target to $79.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Genesco (GCO) made into the market gainers list on Thursdays trading session with the shares advancing 2.29% or 1.19 points. Due to strong positive momentum, the stock ended at $53.09, which is also near the day’s high of $53.25. The stock began the session at $52.2 and the volume stood at 3,00,381 shares. The 52-week high of the shares is $74.21 and the 52 week low is $47.66. The company has a current market capitalization of $1,095 M and it has 2,06,24,514 shares in outstanding.

Genesco(GCO) last announced its earnings results on Sep 1, 2016 for Fiscal Year 2017 and Q2.Company reported revenue of $625.56M. Analysts had an estimated revenue of $642.55M. Earnings per share were $0.34. Analysts had estimated an EPS of $0.27.

Several Insider Transactions has been reported to the SEC. On Sep 9, 2016, David M Tehle (director) purchased 4,100 shares at $48.66 per share price.Also, On Jun 21, 2016, Mimi Eckel Vaughn (Sr VP-Finance and CFO) sold 4,000 shares at $66.10 per share price.On Jun 10, 2016, Robert J Dennis (Chairman, President & CEO) sold 16,685 shares at $65.15 per share price, according to the Form-4 filing with the securities and exchange commission.

Genesco Inc. is a retailer and wholesaler of footwear apparel and accessories. The Company operates in five segments: Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group and Licensed Brands. Journeys Group consists of Journeys Journeys Kidz Shi by Journeys and Underground by Journeys retail footwear chains catalog and e-commerce operations. Schuh Group consists of the Schuh retail footwear chain and e-commerce operations. Lids Sports Group consists of Lids the Lids Locker Room and Lids Clubhouse businesses Locker Room Lids Team Sports and headwear and accessory stores. Johnston & Murphy Group consists of Johnston & Murphy retail operations catalog and e-commerce operations and wholesale distribution of products under the Johnston & Murphy and Trask brands. Licensed Brands consists of Dockers Footwear sourced and marketed under a license from Levi Strauss & Company and SureGrip Footwear occupational footwear sold directly to consumers and other brands.

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